Post by heavyg on Jan 30, 2009 13:00:53 GMT -7
I REALLY HOPE THIS IS TRUE
SEE ARK I CAN POST POSITIVE STUFF ;-)
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www.foxnews.com/politics/firs...es-outrageous/
FOXNews.com
Thursday, January 29, 2009
The chairman of the Senate banking committee claimed Thursday that he would "look at every possible legal means" to recover billions in bonuses to Wall Street executives, after President Obama called the bonuses plain "outrageous."
The president reacted harshly Thursday to reports that corporate employees got paid more than $18 billion in bonuses last year.
"That is the height of irresponsibility. It is shameful," he said.
Sen. Chris Dodd, D-Conn., released a statement saying: "I'm demanding that the Treasury Department figure out some way to get this money back."
White House press secretary Robert Gibbs said the president told his staff that a report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees was "outrageous."
Obama was meeting in the Oval Office with his new treasury secretary, Timothy Geithner.
Obama has said in the past that financial companies that have accepted federal bailout money should limit bonus pay, and Gibbs said Thursday said the administration is studying what it can legally do on the topic.
"Whether it's government or the financial system, we're not going to be able to do what is needed to be done to stabilize our financial system if the American people read about this type of outrageous behavior," the presidential spokesman told reporters. "I think it was the sixth-largest year of bonuses, and I don't think anybody that's opened their 401(k) statement has found out that this was the sixth best year for Wall Street."
Obama met on Wednesday with several corporate chief executives, many of whom have received generous pay packages. Two executives introduced Obama at a White House event, designed to lobby for swift passage of an economic stimulus bill now in Congress.
The Associated Press contributed to this report.
SEE ARK I CAN POST POSITIVE STUFF ;-)
--------------------------------------------------------------------------------
www.foxnews.com/politics/firs...es-outrageous/
FOXNews.com
Thursday, January 29, 2009
The chairman of the Senate banking committee claimed Thursday that he would "look at every possible legal means" to recover billions in bonuses to Wall Street executives, after President Obama called the bonuses plain "outrageous."
The president reacted harshly Thursday to reports that corporate employees got paid more than $18 billion in bonuses last year.
"That is the height of irresponsibility. It is shameful," he said.
Sen. Chris Dodd, D-Conn., released a statement saying: "I'm demanding that the Treasury Department figure out some way to get this money back."
White House press secretary Robert Gibbs said the president told his staff that a report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees was "outrageous."
Obama was meeting in the Oval Office with his new treasury secretary, Timothy Geithner.
Obama has said in the past that financial companies that have accepted federal bailout money should limit bonus pay, and Gibbs said Thursday said the administration is studying what it can legally do on the topic.
"Whether it's government or the financial system, we're not going to be able to do what is needed to be done to stabilize our financial system if the American people read about this type of outrageous behavior," the presidential spokesman told reporters. "I think it was the sixth-largest year of bonuses, and I don't think anybody that's opened their 401(k) statement has found out that this was the sixth best year for Wall Street."
Obama met on Wednesday with several corporate chief executives, many of whom have received generous pay packages. Two executives introduced Obama at a White House event, designed to lobby for swift passage of an economic stimulus bill now in Congress.
The Associated Press contributed to this report.